3Q18 Review/Outlook: Global Fixed Income Opportunities

Market Outlook

3Q18 Review/Outlook: Global Fixed Income Opportunities

17-Oct-2018

Risk Considerations
• The value of bonds are likely to decrease if interest rates rise and vice versa.
• The value of financial derivative instruments are highly sensitive and may result in losses in excess of the amount invested by the Sub-Fund.
• Issuers may not be able to repay their debts, if this happens the value of your investment will decrease. This risk is higher where the fund invests in a bond with a lower credit rating.
• The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
• There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
• There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
• Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
• The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
• Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor's reference currency and the base currency of the investments.

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